September Yorba Linda Housing Market Update

If you’ve been holding off on buying a home in Yorba Linda, waiting for the perfect moment, that time might just be now. Lower interest rates, more homes on the market, and summer sellers getting more anxious to get their home into escrow are creating an ideal opportunity for buyers RIGHT NOW. Are homes that are move-in ready, properly priced, and marketed well still selling quick? Yes. However the average time it takes to sell a home has been slowing rising over the last 3 months. (Properly priced homes are selling in 13 days, overpriced homes are selling in 30+ days) So sellers need understand we are no longer in the same market we have been in since the start of the pandemic and adjust their plans accordingly.

Supply: The number of Yorba Linda homes for sale seems to have peaked last month and is headed down. Typically we start seeing the number of homes decreasing in the fall all the way through winter so this is completely normal. However inventory is still on the low side in Yorba Linda compared to what it usually is around this time of year, reflecting the continued issue we are experiencing with this low inventory environment.

Demand: Interest rates are still heading down and a relatively quick pace, as of today the average interest rates is right around 6.25% for a 30 year loan and 5.65% for an FHA loan. Because prices have remained stable this has given buyers about 12% more purchasing power in Yorba Linda than they had at the beginning of summer.

Want to have a friendly no pressure conversation about your specific real estate related questions? Schedule a 30 minute discover call with me by clicking here. 

Sign up for my monthly Discover Yorba Linda newsletter to automatically enter to win gift cards to local businesses each month by clicking HERE. 

Josh Alexander

THE brokeredge

JoshAlexanderRealEstate@gmail.com

714.366.2186

DRE#:01974435